mc2fool wrote:BTW, just out of curiosity I stuck the sum of my pensions (being what I reckon mortgage lenders would consider as reliable income) into a mortgage borrowing calculator and it looks like I could only borrow half of what I'd need, so it looks like I wouldn't be eligible anyway....
Now this has interested me, so 'scuse the off topic aside but I guess you have ISA income? Why wouldn't it be considered? Do the applications not have a consideration of other incomes. My quick google suggests yes though only variously possible with some conditions.
Anyhow as you don't want a mortgage I'll guess you don't need to explore further.
Like mc2fool, I have not had a mortgage or bank loan for a very long time, 26 yeas in my case. But I did look into getting a short-term loan a couple of years ago, when one of my sons had an interesting property opportunity. Two things struck me about the process:
1) Applying for a loan is a lot more complicated and invasive than it used to be. I guess as a result of the GFC and various newer regulations. I really found it irksome given that I easily had the assets to cover the asked amount and it was not a long-term commitment.
2) My ISA and taxable investments would not be considered by the bank, nor the pregnant value of any deferred pensions.
I did not really consider an ISA shuffle, although it seems like a plausible idea. I did consider offloading a lot of taxable positions and paying the CGT. But in the end my son decided not to proceed with the deal anyway.